PennyTradingNet-Trader Zone

[pennytradingnet]

If you were looking for a simple, shortcut technique, this might be it. A pattern interrupt, to put it very simply, means you notice when you’re about to do something dumb or make an emotional mistake, and you break that pattern. Again, there are many ways to do this: go for a walk, make a phone call, go to the gym, stop trading for a few days, but the key is awareness. You have to build awareness of your own mental and emotional state, first, and then somehow disrupt the negative cycle you have been stuck in.
For instance, assume you get angry after losses and make emotional trades to try to get even. These trades are impulsive and ill-considered and, over time, you lose a lot more money on them, so you want to stop doing that. First, you must have a plan (ahem), and then maintain the awareness of your own mental state to be able to say “I’m emotional right now. I might make a revenge trade.” Now, simply not making that revenge trade might be beyond your capability, but you can make yourself get up and go outside, can’t you? The pattern interrupt is a way to get some leverage against your behavior, even when you might be very emotional. Spend some time working on this, and a lot of your problems will go away


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